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tv   Talking Business  BBC News  February 1, 2025 11:30pm-11:59pm GMT

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this is bbc news. hello and welcome to talking business with me, mark lobel. we will drill, baby, drill. of american government money going into the green so, as the fires rage on in california and other states, and the president of the american council on renewable energy, ray long.
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wherever you'rejoining us from in the world, on day one of his second presidency, donald trump pulled the world's biggest economy out of the world's most significant agreement to combat man—made climate change. it was signed by
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barack obama in 2015. from the agreement. on his first day in office in 2021. and in yet another twist in this tale, the billionaire and former republican mayor of new york mike bloomberg has said his philanthropic agencies will give the united nations but president trump is seeking to reverse more than just on the campaign trail, he made clear his plans to get oil and gas flowing in greater quantities and killjoe biden�*s part of the former president's inflation reduction act.
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in the last few days of his presidency, joe biden�*s so, other than leaving the paris climate agreement, on day one, he declared a national emergency to speed up permits he's making drilling for oil and gas in the arctic and along the coast of the united states possible again. new electric vehicles. in the cost of living.
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to increase production and, in his words, bring so, could it work? council, a life member of america's council of foreign relations and sits on the board of directors free up oil and gas permits and leases... so, he's back to "drill, baby, drill," and he's talking once again about american energy dominance.
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interest of producers? what can he do about it? so, is there a recognition that the united states cannot turn on production like a light switch?
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and so you have to turn to the countries that hold spare capacity. bring on more barrels. but again, the challenge is, for the opec countries, want to see $50 oil. own economic self—interest? how are his calls being received there? everyone to agree to it.
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can you explain how that might work? well, i think from his standpoint, he looks at what has allowed russia to continue fighting this war.
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ukraine the weapons, that is a recipe for an extended can you essentially close the russian oil atm? but he's also trying to reduce permits for things like... interesting to see is, you know, the united states has we've had, you know, discussion of ease of permitting
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to wind, ev mandates potentially being ripped up, so, what does that do to the overall trajectory you could essentially build a coalition to keep it's going to be the case. so, i do think it's a very interesting question to think about. on these climate issues? will it move obviously to europe?
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helima, before we go, i want to put you on the spot. yeah. well, i think the challenge is, you really cannot divorce and i could tell you where the price is going to land. it looks like we will see significant growth potentially thank you.
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so, that's the global picture. on renewable energy, ray long. i want to start by asking you what it's like in your industry right now. that renewables drive in america? becoming electrified, when you think about industrial processes being electrified, we're looking at an increase
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there that are being financed, developed, operated, and it's contributing to the economy. we need all new sources of electricity brought online. there are no... we're just in a different era. about how they were going to approach energy
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so, ithink, you know, we had a realistic road map about how and across multiple technologies. and i recognise that things are going to be different, first, customers, at the end of the day, so the people that voted
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the second thing that they want is that power to be on and to remain on even during periods of, you know, storms and the weather as to how you interact with the trump administration on this issue throughout this interview. how are you going to do that? what's your new strategy? when you sit across the table from somebody or when you sit you can use to talk about things. in this particular case, talking with the trump a lifetime incubating deals, doing development projects about things in business terms. and those relate back to things like, what's the value proposition for customers? what do they actually want to buy? where is the value coming from? are we increasing the economy?
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people to put their kids to college or live the american dream and buy homes and all those things? you got to remember, i think we're two weeks in, theyfre goingto approach things
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in a variety of different ways. at some hard things having to do with notjust the initial bills that ray long, thanks very much for your time here on talking business. companies, bp, for 12 years. in his time there, he changed the company. bp went from standing for british petroleum to beyond petroleum.
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lord browne, welcome to the programme. do the last few weeks and trump's agenda signal and mark a long—term i think fossilfuels have been part of today and part of tomorrow for a very long time. in order to change the energy mix, we need something which will i think, actually, that there's an awful lot continuous surpluses of oil and gas with some constraints by opec
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to wall street in a sensible way. let's turn to renewables now. of activities, widespread across the united states. so, it was a start, but it's by no means enough. and obviously over time, it will vary.
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some of these supports, and i'm sure some of it will be on the other hand, some of the states of the united states are going to take quite an aggressive approach to this, california being one of them. we can see it around us. were completely crazy. they cost so much money that they were really symbols
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rather than pieces of business. which will solve problems of producing electricity, energy and goods and services at far lower greenhouse gas emissions over and right now, they don't have that.
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been something which is risky. with china racing ahead, as you say, with europe still keen, i think it certainly spices up competition — competition for people,
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for investment and for technology. on a winner and you can make a lot of money. i mean, why would they sit at home twiddling their thumbs? they'd leave the country. with what donald trump is doing?
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in the united states actually is now most of the world.
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we don't know yet. i think...most nations are committed. can we do something at the price we do today? cement — energy at today's price and do it with much less carbon, much, much less carbon.
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you can also follow or get in touch with me on x. i'm @marklobel there's more next week there's more next week and i'll see you soon. and i'll see you soon. bye for now. bye for now. hello.
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it will be slow—moving and it will be very weak. fronts that do this. next few days, then, we'll have quite a bit of rain across western areas, but not very much at into northern ireland, western areas of scotland, we've got those clearer skies becoming more extensive where temperatures in the countryside get down start to the day here.
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and western england, central and eastern scotland too, there'lljust be a lump of cloud, with a few patches temperatures about 7—9 celsius. now, heading into the early part of the new working week, eastwards across the country. gusts of around 50—60 miles an hour around the scottish islands, for example. the winds a lot lighter further east. a bit of rain, then, starts to move in through the afternoon to northern ireland and scotland. with a south/south—westerly wind. temperatures mostly about 8—12 celsius. of the uk on tuesday. and then we get this area of high pressure building in for wednesday.
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us president donald trump orders tariffs on imports on its way to mexico crashes in philadelphia. three israeli hostages are freed by hamas, we begin with breaking news out of the white house, with a 10% levy placed on canadian oil exports.
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mexico has been slapped with a similar 25% tax.
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